Note: The information on this page may not be updated. Kindly refer to the bank website to check the latest information.
Fedbook Selfie Zero Balance Account is the latest offering from Federal Bank for the new and tech-savvy generation which counts on their mobile phones and the internet. The account comes with two amazing features – it is a zero balance account and can be opened by taking a selfie.. The banking services and features of this account are available for both Android and iOS smartphone users.
Federal Bank Savings Account Interest Rate w.e.f. 3rd March 2018
Account Balance | Rate of Interest Per Annum |
Less than Rs. 50 Lakh | 3.50% |
Rs. 50 Lakh and less than 10 Crore | 3.50% for Rs. 50 Lakh |
4.00% for the remaining amount (of Rs.50 lakh and above) | |
Rs. 10 Crore and less than 25 Crore | 3.50% up to Rs. 1 Lakh |
6.30% for the remaining amount above Rs. 1 lakh | |
Rs. 25 Crore and above | 3.50% up to Rs.1 Lakh |
6.51% for the remaining amount above Rs. 1 lakh |
The interest rate for the savings account is 3.5% for account balance less than Rs. 50 Lakh, 4% for balance above Rs. 50 Lakh and below Rs. 10 Crore, 6.30% for the balance of Rs. 10 Crore and below Rs. 25 Crore, and 6.51% for Rs. 25 Crore and beyond. The rates above are calculated on the balances maintained at the end of the day and paid-off on a quarterly basis.